Milestone purchases

Establish a budget that won’t put unnecessary financial stress on you or your family and stick to it—even if you have the opportunity to purchase something bigger or newer.

The house of your dreams might not be worth putting all other goals or savings on the back burner.

Talk to your financial professional about the implications of making a bigger or smaller initial investment, including interest over time.

You should try to calculate all costs, including ancillary costs to determine if it makes sense to purchase now or defer it for a later date.

Review your credit report to ensure there are no snags or errors that could prohibit you from qualifying for a loan and subsequently making a purchase.

You may check your credit score once every 12 months from each of the three major credit bureaus at the government-approved website AnnualCreditReport.com.

While making a large purchase is exciting and captivating, fight the urge to get tunnel vision when it comes to your other financial goals. A financial professional can help you strategize how to balance several priorities for your long-term financial health.